At Shalloway & Shalloway, P.A., we work hard to help our clients and their families get the care they need while retaining their hard-earned savings and assets. When a parent, spouse, or loved one becomes ill and needs additional or long-term care, the costs and future can seem overwhelming. Most Americans over the age of 65 will need some form of long-term care during their lifetime. Long-term care costs are rising, and many people do not have the financial means or long-term care insurance to pay for the cost of their care. With odds like that, you need to be prepared.
With the help of our certified elder law and V.A. accredited attorneys, we can help you and your family plan for the future. Estate planning is not just for millionaires and CEOs; it is also for middle-class American families. We also understand that many of our clients come to us during stressful and emotional times: a parent or spouse has fallen or suffered a devastating stroke, is currently in the hospital and will require long-term care. Our experienced and caring attorneys and staff members are sensitive to the stress you are facing and will help you to cope with what’s next. Whether you need a living trust, special needs trust, trust administration, or assistance obtaining Medicaid or V.A. Aid & Attendance benefits, we are ready to assist.
Planning with Special Needs Trusts protect a disabled person’s assets from depletion during their lifetime. Assets might include those received from inheritance or from tort recovery, such as a verdict or settlement from a car accident or medical malpractice case. These specially designed trusts are drafted to protect these assets while allowing the beneficiary to receive necessary public and social benefits (Supplemental Security Income, Medicaid, and more). Without a Special Needs Trust, any assets of the beneficiary will ultimately need to be depleted or “spent down” before the public agencies will provide benefits. Under the protection of a Special Needs Trust, the beneficiary will continue to collect his or her public benefits, and the assets in the trust can be used to supplement his or her care and quality of life. Upon death any assets remaining in the trust will be distributed to public benefits agencies and then the remainder to the person’s beneficiaries.
- Certified and Accredited Elder Law Attorney?
- Over 20 years experience?